Alan Grayson loses $18M in fraud scheme

Alan Grayson loses $18M in fraud scheme. Couldn’t happen to a nicer dumbass.

CO2Insanity: Tired of the CO2 BS and all the other BS in the US and the world.

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  • "Saw one yesterday that he said he had an “uncanny ability” to pick winning stocks. So uncanny the value increased 147%."
    *SNIFF SNIFF* Is that the stench of INSIDER TRADING I smell?

  • Could not have happened to a better asshat..I bet the swindler was a huge democrap campaign contributor with other peoples money....:) I hope he stole all their gold......

  • People like Grayson have fleeced all of us for over $5 trillion since the Whaw on Povehty started in 1964. And after all that, the percentage of the population below the poverty line has not changed.

    I'd say that qualifies as a fraud scheme.

    Makes $18 million look pretty nickel-dime.

  • I doubt Grayson is too worried about losing millions, he'll just steal some more off the taypayers.

  • How does a successful, Harvard grad that specializes in CONTRACT LAW get ripped-off in a ponzi scheme?

    • That's my question too. More specifically why was he giving this guy $18 million in stock as collateral for a loan? A loan for what? He knew damn well when he entered this deal, that it was sketchy. I hope the defendant spent all of it on hookers and blow and that these poor scammed dipshits never see a penny of their money return to them. Average market returns are just not enough for some people I guess.

      • Saw one yesterday that he said he had an "uncanny ability" to pick winning stocks. So uncanny the value increased 147%. Deal was something like signing over control of the stocks to this guy and taking a loan for the value, if the value decreased they pay the loan and walk away from the stock, if it goes up they pay the loan plus interest to regain control of the stock. I'll look for it.

        Not sure about hookers n blow but the guy had a Lambo and a Ferrari.

    • See, there's that pun problem again. Sitting here trying to decide if that was straight up or a sly reference to the previous article. Either way... but I'm leaning toward wry wit.

    • He actually made his money as co-founder of a long distance discount calling company that was best known for it's "Penney Talk" prepaid phone card service.

      IOW, he made his fortune on the backs of illegal aliens.

      • If he is making that kind of cash with frivolous lawsuits, whyinell would he want to be a senator? Unless of course, there is even more money to be made fleecing taxpayers than insurance companies.

        • “No tendency is quite so strong in human nature as the desire to lay down rules of conduct for other people.”

          -William Howard Taft

          An alcoholic must drink, a pedophile must chase children, and a politician must control people. Jon Corzine spent 50-60 million of his own money to become senator. He didn't even finish his first term - he then spent another 50-60 mil to become governor. How crooked does one have to beto make that investment pay off?

          It simply can't be all about the money (not saying money isn't a significant part of it). There is another payoff, and that is the personal satisfaction they get from meddling in peoples' lives.

          • You are so right. The desire to control other people is an end in of itself. Most if not all of despots at some point in their lives felt out of control and without power to control their circumstances. They were abused or violated or maybe people that were close to them. They were lied or dissapointed... whatever the case. It is something that is interesting they way they dealt with those issues was to seek power and the ability to control as many people as possible. If that meant destroying lives then that is what it meant if the idea was remain in control. It is actually a hallmark of evil.

          • It's the leftist politicians that spend their own money on a campaign. They're the ones with the most to spend.

          • Irony, I suppose.

            It's also that they are the most driven to tell everyone what to do and how to live. A libertarian type simply won't find the position to be worth spending that much money on. The desire to meddle isn't there.

        • Navy, not that Wiki is the best source, but here is what it says about Grayson & his law career. It might make sense after you read it...

          Grayson worked as a law clerk at the Colorado Supreme Court in 1983,[11] and at the D.C. Circuit Court of Appeals from 1984 to 1985, where he worked with two judges who later joined the U.S. Supreme Court: Ruth Bader Ginsburg and Antonin Scalia.[2] He was an associate at the Washington, D.C. firm of Fried, Frank, Harris, Shriver & Jacobson for five years, where he specialized in contract law.

          In 1991 he founded the law firm Grayson & Kubli, which concentrated on government contract law. He was a lecturer at the George Washington University government contracts program and a frequent speaker on the topic.[9] In the 2000s, he worked as a plaintiffs' attorney specializing in whistleblower fraud cases aimed at Iraq war contractors. One contractor, Custer Battles, employed individuals who were found guilty of making fraudulent statements and submitting fraudulent invoices on two contracts the company had with the Coalition Provisional Authority in Iraq.[12][13] On behalf of his clients, Grayson filed suit under the False Claims Act and its qui tam provisions.[12] The jury verdict was more than $13 million, which was upheld on appeal in April 2009. The case remains the only successful prosecution of those who profited illegally from the war in Iraq. The Iraq war contractor fraud case brought Grayson his first national attention.[14] In 2006, a Wall Street Journal reporter described Grayson as "waging a one-man war against contractor fraud in Iraq" and as a "fierce critic of the war in Iraq" whose car displayed bumper stickers such as "Bush lied, people died

          ...looks like much of the legal stuff he made serious money on was Iraq related.

          • Busch's adjunct of choice is rice. Again, a decent beer can be brewed with a little rice, but when the grain bill has more than 10% adjunct or maybe 12 to 15% depending on the qualities of the malted barley, it starts to get fu-fu-funky. When they use 25 to 35% it ain't even beer anymore.

          • I stopped drinking "commercial grade" beer when I lived in OR and discovered micro brews.

            I am willing to spend slightly more for a GOOD beer.

            However, since I moved to D-land, and have been trying to drink every brand of beer made here, it has been a full time job.

            Then I decided to just stick with brewery's that have been around over 200 years.
            Hasn't made the selection much easier though.
            Hell, the 200 year old places here are called the NEW houses.

          • Who makes Milwaukee's Best? What's in my fridge when I'm not treating myself or having company other than the football crowd. Football crowd = hide the good stuff and buy a 30pak from the far end of the cooler.

          • Yea, I'm pretty sure it was 77.
            My dad loved regular Coors when he was in the Air Force, and when it came East, I bought him a case for his birthday!
            Yes, it was skinnier than others, and the push in top brings back memories.

          • The old Silver Bullet!

            Back in the 60s when Coors was not shipped east of the Continental divide and they had only the one type, my family would drive across this nation, usually to southern California but always stopping in Aurora, Colorado to visit my dad's friend who was busy opening trailer lots at first, then motels and hotels, and growing quite wealthy in that process. ----

            Wow, I go off on tangents a lot but usually backspace the irrelevant parts away. Not this time.

            So anyway, Coors was very good even when it started getting delivered to the east. That must have been 77 or 78 maybe? The cans were still push-in button tops and I think they might have been a little skinnier than the normal cans. They were also the first ones that were all aluminum.

            I don't get gastro-industrial syndrome from Coors even still and it is easy enough to choke down a few. I don't particularly like it, but it is safer than the water. The tap water around the Tampa area is miserable in my opinion. Tastes like sinkhole solution.

          • Miwaukee's Best was originally a Gettelman Brewery product. When Miller bought Gettelman in the early 60s, they continued to brew it at the original brewery with the original recipe. It was a common practice of many Wisconsin brewers to use corn adjunct in their mash and that a fine beer can be brewed with a bit of corn in the grist is a fact. However, by the later 70s Miller began killing all the other breweries in Milwaukee, they were using more and more corn in the grist. Miller brands got 35% and more corn in some. That's awful for the flavor and the feel. To make it even worse, Miller adopted the high gravity brewing and fermentation process, and they inject carbonated water into the product at the packaging line to achieve the proper gravity and carbonation, which effectively doubles their capacity. That practice would have resulted rightly in the hanging of a brewer a few hundred years ago. If I drink a miller product I get a headache. Busch products give me worse headaches.

          • Gettin' lazy in your old age? Won't expend the energy to just look at the beer, unless you're going to drink one? LOL!

            No, the no-reply police won't get you. I'm sure everyone has done it at one time.

          • Well, I coulda looked in the fridge but it's way the hell over there←.
            And I get MB Ice, more bang for the buck.

            (And am I the only one who's ever replied straight from mail? I was so excited talking about BEER I forgot what I was doing. Give me a break, it's 12 outside and I can't find my gloves. And will I be getting a visit from the MailPolice for daring to send something to a no-reply notification?)